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CME live cattle futures fell to contract lows as cash cattle traded at $100 per cwt in Texas and Kansas, down from $103 the prior week. Wholesale beef extended its slide after the Labor Day holiday, with choice cutout down $1.23.
Feeder cattle and lean hogs also weakened.
Lower cash and boxed beef values pull feeder and live cattle futures down, which lowers the price packers pay for feeder cattle and raises pressure on feedlot margins.
financialpost.comReutersSep 5, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Futures hit contract lows Sept 5 as cash cattle fell to $100 from $103 and boxed beef slid after Labor Day.
